Lady Gaga Gives Her Father Half Her Money!

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Whoa, did you know that Lady Gaga gives her father half of all her money, yup 50% of her profits go to her dad (under their LLC Team Love Child and Mermaid Music)…talk about a Daddy’d Girl!

How does the biggest pop star on the planet reward herself after she’s spent the past year touring the world, performing for President Bill Clinton, opening her own boutique in Barneys, releasing a high-fashion picture book, and prepping for her appearance on “Dick Clark’s New Year’s Rockin’ Eve”?

If you’re Lady Gaga, you go home to Mom and Dad’s and curl up in your childhood bedroom on the Upper West Side — which is what she plans to do this holiday weekend as her ABC variety special, “A Very Gaga Thanksgiving,” premieres Thursday night.

“She still doesn’t have her own place in the city,” one longtime friend tells The Post. “She and her family are very tight.”

It’s her great paradox: At 25, Lady Gaga may be the most avant-garde performer of the last decade, a self-anointed Queen of the Freaks who reinvents herself with whipsaw rigor, yet she remains very much a nice Catholic girl who is most comfortable with 19-year-old sister Natali, mom Cynthia and dad Joe — who takes an unprecedented 50 percent of her earnings under their LLCs, Team Love Child and Mermaid Music.

She’s also bought a restaurant, one of her dad’s favorites on the Upper West Side. Formerly known as Vince & Eddie’s, it’s been renamed Joanne after his late sister. Celebrity chef Art Smith, who appears on Gaga’s Thanksgiving special, is at the helm.
But it’s the 50/50 split between Gaga and her father that’s most unusual. There’s only one other of its kind in the history of the music industry — between Elvis and Col. Tom Parker.

“There’s really no justifiable sense to doing a 50/50 deal with anyone in your career, other than someone you’re partners in a band with,” says Josh Grier, an entertainment lawyer who represents Wilco and Elvis Costello, among others. “Certainly no artist entering a management deal does anything close to that — a commission is usually 15 to 20 percent.”

Read the entire post at the NYPost

Photo from PR Photos